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Shiba Inu Price Analysis: SHIB/USD bearish for the next 24 hours

Terra price analysis

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00003449.
  • SHIB is currently trading at $0.0000175.

Today’s Shiba Inu price analysis indicates a bearish trend in the market. The market, however, appears to have been shattered, and a turnaround is now expected. As a result, SHIB’s value sank by 77 percent and hit $0.00002175 on February 24, 2022; it then continued its massive rise.

The price of Shiba Inu has been plummeting lately, causing the value of SHIB to fall dramatically. As a result, the price of SHIB/USD has lost most of its gains and is currently at $0.00002175. SHIB is presently valued at $0.00002175. Shiba Inu has shed most of its value in the last 24 hours, with a significant fall to $0.00002175. The downtrend is most likely to continue over the next day or two and could see SHIB hit as low as $0.0000017. However, this is only a forecast, and the actual price could vary significantly.

SHIB/USD 4-hour analysis: Latest developments

According to the Shiba Inu price analysis, the market follows a bearish trend as market volatility rises, forcing resistance and support lines to open up, ensuring that the cryptocurrency’s price will remain stable until the volatility subsides. However, it is becoming increasingly vulnerable to volatile change on either side of the exchange. As a result, it is advisable to hold off any long-term investments in the SHIB/USD pairing until this period of extreme volatility subsides.

The latest Shiba Inu price analysis shows that the market is bearish and that the value of SHIB could drop even further. The following 24 hours should be closely monitored as the market could turn bullish or bearish at any time. If you want to invest in this cryptocurrency, it is best to wait for a more stable period.

The market is currently experiencing a period of high volatility, and the Shiba Inu price analysis shows that this could cause SHIB to drop in value. As a result, it is advisable to hold off on any long-term investments until the market stabilizes. The next day or two should be closely monitored to see if the market turns bullish or bearish.

Shiba Inu price analysis: SHIB break support at $0.00002175 1SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price is currently trading at $0.65 per unit, a discount of 50 percent to its all-time high. The Relative Strength Index (RSI) score was 30, indicating that the SHIB/USD was undervalued and should fall further. Since then, the price has been declining, suggesting a bearish market and a downtrend. The following support level is at $0.00002175, while the resistance is $0.00003449.

The market is currently experiencing high volatility, which could cause the SHIB/USD to experience a significant price change in either direction. As a result, it is essential to monitor the market closely in the next day or two to see if the trend changes. If you want to invest in SHIB, it is best to wait for a more stable period. The all-time high for SHIB/USD is $0.000065, reached yesterday.

Shiba Inu price analysis for 1-day: Market breaks

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a declining trend, making Shiba Inu’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00003449, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002175, which acts as another resistance point for SHIB.

The SHIB/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to be following a downward activity, showing signs of a decreasing market and a future shifting market the support has already been broken.

Shiba Inu price analysis: SHIB break support at $0.00002175 2

SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 36, signifying an undervalued cryptocurrency. Furthermore, the RSI falls in the devaluation region, but following a massive downward approach signals a declining market and represents the selling activity exceeding the buying activity, causing the RSI score to increase.

Shiba Inu Price Analysis: Conclusion:

The Shiba Inu price analysis reveals the market following bearish movement, showing massive reversal potential. The bears currently dominate the market but have grown tired, and with the market in the breakout, the bulls gain an immense opportunity to take control and maintain it for a long time; they might overtake bears and take them out of the picture. We can expect an excellent bullish run for the Shiba Inu cryptocurrency.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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